STRATEGIC INTERNET INVESTMENTS, INCORPORATED COMPLETES LETTER OF INTENT FOR FILM PRODUCTION AND DISTRIBUTION FINANCIAL PERTNERSHIP
News Release: #6-04
Symbol: SIII
Exchange: OTC:BB Symbol SIII
December 22, 2004
Shares issued: 19,928,960
Sec #33-28188
NEWS RELEASE
VANCOUVER, BC--(MARKET WIRE)--Dec 22, 2004 -- In keeping with the Leisure and Entertainment business focus of Strategic Internet Investments Incorporated (OTC BB:SIII.OB - News), (the "Company"), management is pleased to inform shareholders that the Company has signed a Letter Of Intent (the "LOI") with G7 Limited, a Doha, Qatar registered corporation. G7 is an affiliated party to the Company. The LOI outlines the general terms and conditions which will govern a more definitive agreement to be entered into between the Company and G7, relating to the engagement of the Company as a financial partner in certain motion picture production ventures to be carried on by G7. Under the LOI, G7 has appointed the Company as the exclusive agent of G7 for the purposes of facilitating financing to meet that portion of G7's film production budgets that is not met through non-equity financing such as presales, subsidies or other similar non-debt financial programs.
It is the intent of the parties that the Company will, subject to such transactions being qualified or eligible under applicable securities laws, receive financing funds as a private placement investment in the Company and to issue common shares of the Company in respect therefore, at a price per share to be agreed to by the Company and the participating investors. The Company will, in turn, advance the required Films Equity Funding to G7.
All funds advanced by the Company to G7 will be advanced to purchase a participating equity interest in certain film(s). The amount of participating interest in each Film to be purchased by the Company will be negotiated on a case by case basis. In addition, the Company will also be entitled to receive options (also to be negotiated on a case by case basis) entitling the Company to purchase a greater participating interest in the Film, up to an aggregate of fifty percent, with such option being exercisable by the Company through the issuance of common shares of the Company or as negotiated by the parties by the payment of cash, or some combination of cash and common shares of the Company.
G7 has entered into an agreement with Stevens Entertainment Group, Inc., headed by principal Andrew Stevens, a shareholder of G7, in which G7 has the right to enter into agreements to option and commercially exploit certain original screenplays (and all associated intellectual property rights) which are owned and/or controlled by Stevens Entertainment Group, including those particular screenplays having the working titles "Razor's Edge" and "Blowback," both Hollywood action style screenplays that contemplate major action stars in their leading roles.
Statements regarding financial matters in this press release other than historical facts are "forward-looking statements" within the meaning of section 27A of the Securities Act of 1933, Section 21E of the Securities Exchange Act of 1934, and as the term is defined in the Private Securities Litigation Reform Act of 1995. The company intends that such statements about the Company's future expectations, including future revenues and earnings, and all other forward-looking statements be subject to the safe harbours created thereby. Since these statements (future operational results and sales) involve risks and uncertainties and are subject to change at any time, the Company's actual results may differ materially from expected results.
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Statements
regarding financial matters in this press release other than
historical facts are "forward-looking statements"
within the meaning of section 27A of the Securities Act of 1933,
Section 21E of the Securities Exchange Act of 1934, and as that
term is defined in the Private Securities Litigation Reform
Act of 1995. The company intends that such statements about
the Company's future expectations, including future revenues
and earnings, and all other forward-looking statements be subject
to the safe harbors created thereby. Since these statements
(future operational results and sales) involve risks and uncertainties
and are subject to change at any time, the Company's actual
results may differ materially from expected results.
